-Assume That the Product Price Is $4 Per Unit and That

question 46

Multiple Choice

-Assume that the product price is $4 per unit and that the hourly wage for workers is $12.Neither price nor wage changes with output.In Table 30.1,the contribution to total revenue of the fourth worker hired is

• A)$76 per hour.
• B)$16 per hour.
• C)$4 per hour.

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Definitions:

Average Range

The mean difference between the highest and lowest values in a set of observations, used as a measure of statistical dispersion.

Inspection Samples

Specific items taken from a larger batch or lot for the purpose of testing or examining them to ensure they meet specified standards.

Control Limits

The boundaries in control charts that signal when a process is out of control and corrective action may be needed.

Sample Range

The difference between the highest and lowest values in a set of sample data, used as a measure of variability.